Sauber have guaranteed their immediate future by attracting support from various Russian organisations. Photograph: Arnd Wiegmann/Reuters

Sauber appear to have secured their immediate future in Formula One after announcing a deal that will involve financial backing for the team from a number of Russian organisations.

Among several new partners will be Russia's National Institute of Aviation Technologies, whose head, Oleg Sirotkin, is the father of the 17-year-old racing driver Sergey Sirotkin, who is now expected to sign with Sauber with a view to being fast-tracked into a race seat for the start of next season – when Russia is scheduled to host its first ever Formula One grand prix in Sochi.

Sirotkin is currently racing in Formula Renault 3.5 after winning the 2011 Formula Abarth European Series, although one stumbling block to elevating him straight into Formula One comes with the fact he does not yet hold the required 'Super Licence'.